ICBC can receive Western Union remittances.

Relevant regulations of ICBC:

1. The account balance of electronic cash can still be used by others. The electronic cash compensation will be deducted from the credit card account, and the amount is equivalent to the amount I paid when reporting the loss. The electronic cash account balance displayed in the bank's system. If the original electronic cash account balance has not been used after the original lost card expires, the electronic cash compensation that has been deducted will be returned to your valid credit card account one month after expiration.

2. Handle the collection and payment of funds arising from the temporary business activities of temporary institutions and depositors. Cash withdrawals from temporary deposit accounts should be handled in accordance with national cash management regulations. The scope of opening a temporary deposit account: establishment of temporary institutions, temporary business activities in other places, registration and capital verification.

3. As an emergency function when you need cash urgently, you can advance cash to the bank first. The borrowed cash will be listed on the next bill and can be paid together with the consumption payment. Cash withdrawals cannot enjoy the interest-free period and are subject to a cash withdrawal fee.

4. Handle multilateral payment issues in online trade business. Payment settlement involves multiple parties such as customers, merchants, and banks. The purchased purchase information and payment instruction information must be connected together, because merchants will only continue transactions after confirming certain payment information, and banks will only provide payment after confirming payment. .

In order to ensure security, merchants cannot read customers' payment instructions, and banks cannot read merchants' purchase information. This multilateral payment relationship can be realized by using technologies such as double digital signatures provided by the system.

5. Each card can withdraw up to the equivalent of 10,000 yuan in local currency per day; if you use MasterCard and other other networks to withdraw cash, each card can withdraw up to the equivalent of 1,000 US dollars in local currency per day. Note: For cash withdrawals using non-UnionPay networks in countries where U.S. currency does not circulate, a foreign exchange fee of 1.5% of the cash withdrawal amount will be charged

So ICBC can receive Western Union remittances.

Extended information:

The role of Industrial and Commercial Bank of China:

1. Feedback function

Economic information generated during CCB’s card handle exchange activities Transmission and reflection to the exchange parties are the feedback function of the market. While commodity sellers and buyers are conducting exchange activities in the market, they are constantly inputting information about production, consumption, etc. This information is transformed by the market and fed back in new forms.

The form and content of CCB card information are diverse. In the final analysis, they are the manifestation of the supply capacity and demand capacity of commodities in the market. They are a foreshadowing of the changing trends of market supply and demand. Their essence reflects the role of social resources in various fields. Department allocation ratio.

The information feedback function of CCB Card can provide an important basis for national macroeconomic decisions and corporate production and operation decisions: on the one hand, the state can judge the performance of various sectors of the national economy based on the information feedback on the total volume of market commodities and their structure. Whether the proportional relationship between departments is appropriate or not, and plan and adjust the allocation ratio of social resources in various departments accordingly;

On the other hand, enterprises can also make adjustments based on information feedback on the market sales status of goods. Make judgments and predictions about consumer preferences and demand potential, thereby deciding and adjusting the business direction of the enterprise.

With the improvement of social informatization, the information feedback function of the market will be increasingly strengthened.

2. Regulatory function

The regulatory function means that the market, under the action of its internal mechanism, can automatically adjust the operating process and basic proportional relationships of the social economy. As the operating carrier and realistic manifestation of the commodity economy, the market is essentially the realization form in which the law of value takes effect. The law of value is transformed into the internal mechanism of economic activities through price, supply and demand, competition and other forms of action.

The market mechanism automatically regulates the entire process of social production, distribution, exchange, and consumption through price adjustment, supply and demand adjustment, and competition adjustment. For example, adjust the allocation of social resources among various departments and enterprises and the total volume and type composition of produced products; adjust the interest distribution relationship between various market entities;

Adjust the total supply and demand and supply and demand structure of market commodities; Adjust social consumption levels, consumption structure and consumption patterns, etc. On the basis of the above adjustments, automatic adjustment of the basic proportional relationship of social economy is finally achieved. The regulating function is the most important and core function of the market.

Baidu Encyclopedia-Industrial and Commercial Bank of China

Official website of Industrial and Commercial Bank of China-Bank Card Regulations